The hottest economic recovery in France and German

2022-08-04
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Economic recovery in France and Germany international oil price rose on Thursday

economic recovery in France and Germany international oil price rose on Thursday

August 14, 2009

[China paint information] due to the maintenance method of the second quarter economic recovery fatigue test machine in France and Germany, the top two European Union, which increased the optimistic expectation of fuel demand, the international oil price rose on Thursday. At the close of trading on Thursday, September light crude oil futures on the New York Mercantile Exchange were $70.52 a barrel, up $0.36 from the previous trading day; London Intercontinental Exchange Brent crude oil September futures 73.48, up $0.59; New York heating oil September futures were 190.28 cents per gallon, up 1.07 cents from the previous trading day; Rbob gasoline September futures were 201.92 cents per gallon, down 0.61 cents from the previous trading day; London: ABS plastics international exchange August diesel futures were $594.25 per ton, unchanged from the previous trading day

according to the quarterly statistical data released by Eurostat on the 13th, the GDP of the 27 EU countries fell by 0.3% in the second quarter, which was significantly slower than the 2.5% decline in the first quarter. Among them, the GDP of Germany and France, the economic engines of Western Europe, rose by 0.3% month on month, while the GDP of the 16 countries in the euro zone fell by only 0.1% month on month. At the interest rate meeting ended on Wednesday, the Federal Reserve kept the current ultra-low interest rate of 0~0.25% unchanged and said it would use all necessary tools to promote economic recovery

Michael Lynch, President of Massachusetts strategic energy and Economic Research Institute, said: "the exciting economic data has driven up the oil price. The oil price has not been affected by any fundamental factors of supply and demand. Green is the new requirements of development and the main impact of transformation."

On Wednesday, the Department of energy reported that the US crude oil inventory increased by 2.52 million barrels last week, far higher than the 1million barrels expected by analysts, which was the third consecutive week of increase

in addition, the depreciation of the US dollar is also a factor in the rise of oil prices. The euro rose to 1.4284 against the US dollar on Thursday from 1.4188 on Wednesday. The depreciation of the US dollar has increased the attractiveness of oil futures as investment goods, thus supporting oil prices

earlier on Thursday, the oil price once fell along with the stock market due to the rise in the number of Americans receiving unemployment benefits and the unexpected decline in retail sales in July

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